Piyush Goyal, serving as the Union Minister of Commerce & Industry, Consumer Affairs, Food and Public Distribution, and Textiles, led a roundtable discussion involving 40 Unicorns to celebrate their accomplishments and strategize for the proliferation of more unicorns in India. This event took place amidst the Startup India Innovation Week, aiming to offer insights into the journey of these unicorns, identify the factors contributing to their success, and pinpoint opportunities for bolstering the growth of the Indian startup ecosystem to position the nation as a global leader in startups.
During the discussion, Piyush Goyal encouraged the unicorns to collaborate and establish a unicorn club or association to devise solutions for enhancing access to capital for startups across the country. The conversations centered on streamlining regulatory processes, fostering a more conducive environment for startups, improving accessibility in Tier-2/3 cities, and drawing lessons from the best practices established by private-sector financial institutions.
The Department for Promotion of Industry and Internal Trade (DPIIT) marked this year’s Startup India Innovation Week by bringing together key stakeholders including startups, entrepreneurs, investors, policymakers, and other stakeholders from January 10th to 18th, 2024. Notable announcements included the launch of ‘StartupShala’ – Startup India’s Accelerator Program, which is a three-month program designed for early-stage startups, with each cohort focusing on a specific sector. The inaugural cohort, centered on CleanTech, will select 20 startups through an open call for applications.
To inspire students and aspiring entrepreneurs, five dedicated webinars were organized under the ‘MAARG Mentorship Series for Budding Entrepreneurs’. Industry leaders and mentors shared valuable insights on the fundamentals of starting a startup through live sessions hosted on Startup India’s social media platforms and the MYBharat portal for young entrepreneurs.
The 75+ physical events held during the Startup India Innovation Week acted as a catalyst for entrepreneurship, showcasing India’s vibrant ecosystem and inspiring numerous aspiring founders. These events covered a wide range of topics, from empowering women entrepreneurs to training incubator champions, and included workshops, mentorship sessions, and engaging roundtable discussions held in various cities, fostering collaborations that are shaping the future of the startup ecosystem.
Earlier in the week, a one-to-one mentorship program for startups with corporate partners was launched. This series offered exclusive guidance and support for selected startups in collaboration with corporate partners such as HCL, HSBC India, Qualcomm India Private Limited, and TCS Foundation across domains such as financial lending, operations, sustainable innovations, and disruptive technology.
To raise awareness about innovation and sustainability, a virtual panel discussion was organized with global partners to explore the five key pillars of innovation. Additionally, a dedicated workshop in Mumbai educated startups about the benefits available on the Government e-Marketplace (GeM), while a successful Workshop on Public Procurement at the University of Hyderabad saw participation from over 70 entrepreneurs on January 9th, 2024.
